Dan Olsen- Productized Masterclass
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The document provides an overview of Dan Olsen's background in engineering, product management, and as the founder of a Lean Product Meetup group. It discusses key concepts for building the right product like determining customer needs, defining a value proposition, and creating a minimum viable product (MVP). Specific frameworks are presented for identifying underserved needs, prioritizing features, mapping benefits to features, and calculating the opportunity score of potential product ideas. The document emphasizes the importance of testing products with customers throughout the development process.
Dan Olsen- Productized Masterclass
- 1. Dan Olsen How to Build the Right Product
- 2. My Background • Engineering: coding, submarine design • Stanford MBA • Product management leader, Intuit & startups • Author, The Lean Product Playbook • Product trainer & consultant • Founder, Lean Product Meetup My website: https://dan-olsen.com
- 4. “With great responsibility comes NO power” Product Manager’s motto: Spiderman’s motto: “With great power comes great responsibility” © 2021 @danolsen
- 6. How the customer described it What was ready by the original launch date How the PM envisioned it The alpha version of the product The beta version of the product What Marketing advertised What the Sales team sold What the customer really wanted
- 7. That’s Why I Wrote © 2021 @danolsen
- 8. The Product-Market Fit Pyramid © 2021 @danolsen
- 9. The Product-Market Fit Pyramid © 2021 @danolsen
- 10. The Product-Market Fit Pyramid © 2021 @danolsen
- 11. The Product-Market Fit Pyramid © 2021 @danolsen
- 12. The Product-Market Fit Pyramid © 2021 @danolsen
- 13. The Product-Market Fit Pyramid © 2021 @danolsen
- 14. The Product-Market Fit Pyramid © 2021 @danolsen
- 15. The Product-Market Fit Pyramid © 2021 @danolsen
- 16. The Lean Product Process
- 17. The Lean Product Process
- 18. The Lean Product Process
- 19. The Lean Product Process
- 20. The Lean Product Process
- 21. The Lean Product Process
- 22. The Lean Product Process
- 23. The Lean Product Process
- 24. The Lean Product Process 1. Determine your target customer 2. Identify underserved customer needs 3. Define your value proposition 4. Specify your MVP feature set 5. Create your MVP prototype 6. Test your MVP with customers © 2021 @danolsen
- 25. The Lean Product Process 1. Determine your target customer 2. Identify underserved customer needs 3. Define your value proposition 4. Specify your MVP feature set 5. Create your MVP prototype 6. Test your MVP with customers © 2021 @danolsen
- 26. Problem Space vs. Solution Space Problem Space n A customer problem, need or benefit that the product should address n A well-written user story: “As a __ , I want to __ , so I can __.” Solution Space n A specific implementation or design to address the customer need © 2021 @danolsen
- 27. Problem Space vs. Solution Space Ability to write in space (zero gravity) Solution Space Space pen: $1 M R&D cost Russians: pencil Problem Space © 2021 @danolsen
- 28. Avoid solution pollution by asking “Why?” © 2021 @danolsen
- 30. Problem Space (user benefits) Problem vs. Solution Space: Product Level Solution Space (product) TurboTax TaxCut Pen and paper © 2021 @danolsen Prepare my taxes
- 31. Start by Exploring Problem Space Problem Space (user benefits) Solution Space (product) Prepare my taxes File my taxes Check my taxes Maximize my deductions Reduce my audit risk © 2021 @danolsen
- 32. Problem Space Definition for TurboTax Save me time filing taxes Save me time preparing taxes Maximize my tax deductions Check my return Reduce my audit risk Help me prepare my taxes Improve my confidence Save time Save money Cost me less than a CPA
- 33. Prioritizing Needs: Importance vs. Satisfaction Importance of User Need User Satisfaction with Current Alternatives Low High Copyright © 2021 @danolsen High Low
- 34. Copyright © 2021 @danolsen Extremely Satisfied Extremely Dissatisfied Moderately Dissatisfied Somewhat Dissatisfied Moderately Satisfied Somewhat Satisfied Neither Satisfied nor Dissatisfied Not Important Slightly Important Moderately Important Very Important Extremely Important How important is <Need X>? How satisfied are you with how <Need X> is being met?
- 35. Prioritizing Needs: Importance vs. Satisfaction Importance of User Need User Satisfaction with Current Alternatives Low High Copyright © 2021 @danolsen Low High Not Worth Going After
- 36. Prioritizing Needs: Importance vs. Satisfaction Importance of User Need User Satisfaction with Current Alternatives Competitive Market Low High Copyright © 2021 @danolsen Low High Not Worth Going After
- 37. Prioritizing Needs: Importance vs. Satisfaction Importance of User Need User Satisfaction with Current Alternatives Low High Copyright © 2021 @danolsen Low High
- 38. Prioritizing Needs: Importance vs. Satisfaction Importance of User Need User Satisfaction with Current Alternatives Competitive Market Low High Not Worth Going After Copyright © 2021 @danolsen Low High
- 39. Prioritizing Needs: Importance vs. Satisfaction Importance of User Need User Satisfaction with Current Alternatives Competitive Market Opportunity Low High Copyright © 2021 @danolsen Low High Not Worth Going After
- 42. Segway’s Hypothesis: Speed is High Importance Importance of User Need User Satisfaction with Current Alternatives Low High Copyright © 2021 @danolsen Low High Travel short distances quickly
- 43. Segway’s Hypothesis Importance of User Need User Satisfaction with Current Alternatives Low High Copyright © 2021 @danolsen Low High Walking Segway
- 44. Most people didn’t consider Segway’s speed benefit important It turned out that only 2 customer segments found the speed benefit important Who?
- 46. Tourists
- 47. What is it about mall cops and tourists that makes the Segway appealing? They walk A LOT: long distances and/or frequently
- 49. What customer need does Uber address? Importance of User Need User Satisfaction with Current Alternatives Low High Copyright © 2021 @danolsen Low High Be driven somewhere
- 50. Low Satisfaction with Taxis as a Solution Importance of User Need User Satisfaction with Current Alternatives Low High Copyright © 2021 @danolsen Low High Taxis
- 51. Uber Meets the Need with Higher Satisfaction Importance of User Need User Satisfaction with Current Alternatives Low High Copyright © 2021 @danolsen Low High Taxis
- 52. Prioritizing Needs: Importance vs. Satisfaction Importance of User Need User Satisfaction with Current Alternatives Competitive Market Opportunity Low High Copyright © 2021 @danolsen Low High Not Worth Going After
- 53. Creating Customer Value Copyright © 2021 @danolsen Importance of User Need User Satisfaction with the Product Low High Area = Customer Value Created Area = Opportunity to Create Customer Value Low High
- 54. Calculating the Opportunity Score Copyright © 2021 @danolsen Importance of User Need User Satisfaction with the Product Low High The closer to this corner, the greater the opportunity to create customer value Opportunity Score = Importance x (1 – Satisfaction) Low High
- 56. Users Rated 13 Key Features in a Survey Recommended reading: “What Customers Want” by Anthony Ulwick Great Bad © 2021 @danolsen Importance Satisfaction
- 57. The Lean Product Process 1. Determine your target customer 2. Identify underserved customer needs 3. Define your value proposition 4. Specify your MVP feature set 5. Create your MVP prototype 6. Test your MVP with customers © 2021 @danolsen
- 58. What is Your Value Proposition? n Which customer needs will your product address? n How will your product be better than competitors?
- 60. Kano Model Need fully met Need not met © 2021 @danolsen
- 61. Kano Model User Satisfaction User Dissatisfaction Need fully met Need not met © 2021 @danolsen
- 62. Kano Model User Satisfaction User Dissatisfaction Performance Need fully met Need not met © 2021 @danolsen
- 63. Kano Model User Satisfaction User Dissatisfaction Performance Must Have Need fully met Need not met © 2021 @danolsen
- 64. Kano Model User Satisfaction User Dissatisfaction Performance Delighter (wow) Must Have Need fully met Need not met © 2021 @danolsen
- 65. Kano Model User Satisfaction User Dissatisfaction Performance Delighter (wow) Must Have Need fully met Need not met Needs & features migrate over time © 2021 @danolsen
- 66. The Value Proposition Grid Must Have Benefit 1 Performance Benefit 1 Performance Benefit 2 Performance Benefit 3 Delighter Benefit 1 Delighter Benefit 2 © 2021 @danolsen
- 67. The Value Proposition Grid Competitor A Competitor B You Must Have Benefit 1 Performance Benefit 1 Performance Benefit 2 Performance Benefit 3 Delighter Benefit 1 Delighter Benefit 2 © 2021 @danolsen
- 68. The Value Proposition Grid Competitor A Competitor B You Must Have Benefit 1 Y Y Performance Benefit 1 High Low Performance Benefit 2 Low High Performance Benefit 3 Med Med Delighter Benefit 1 Y - Delighter Benefit 2 - - © 2021 @danolsen
- 69. The Value Proposition Grid Competitor A Competitor B You Must Have Benefit 1 Y Y Y Performance Benefit 1 High Low Med Performance Benefit 2 Low High Low Performance Benefit 3 Med Med High Delighter Benefit 1 Y - - Delighter Benefit 2 - - Y © 2021 @danolsen
- 70. The Value Proposition Grid Competitor A Competitor B You Must Have Benefit 1 Y Y Y Performance Benefit 1 High Low Med Performance Benefit 2 Low High Low Performance Benefit 3 Med Med High Delighter Benefit 1 Y - - Delighter Benefit 2 - - Y © 2021 @danolsen Unique differentiators
- 71. What were Instagram’s Unique Differentiators? © 2021 @danolsen
- 72. Photo upload UX hack Problem Space Instagram: Problem vs. Solution Space Solution Space Filters Square aspect ratio © 2021 @danolsen Make my photos look good Post my photos quickly
- 73. Other Photo Sharing Apps Instagram Must Haves Performance benefits Delighters © 2021 @danolsen Instagram Value Proposition
- 74. Other Photo Sharing Apps Instagram Must Haves Let me share my photos Y Y Performance benefits Delighters © 2021 @danolsen Instagram Value Proposition
- 75. Instagram Value Proposition Other Photo Sharing Apps Instagram Must Haves Let me share my photos Y Y Performance benefits Post my photos quickly (photo upload UX hack) Low High Delighters © 2021 @danolsen
- 76. Instagram Value Proposition Other Photo Sharing Apps Instagram Must Haves Let me share my photos Y Y Performance benefits Post my photos quickly (photo upload UX hack) Low High Delighters Make my photos look good (filters, square aspect ratio) N Y © 2021 @danolsen
- 77. Instagram Value Proposition Other Photo Sharing Apps Instagram Must Haves Let me share my photos Y Y Performance benefits Post my photos quickly (photo upload UX hack) Low High Delighters Make my photos look good (filters, square aspect ratio) N Y © 2021 @danolsen
- 78. © 2021 @danolsen
- 79. Must have Performance Delighter © 2021 @danolsen
- 80. The Lean Product Process 1. Determine your target customer 2. Identify underserved customer needs 3. Define your value proposition 4. Specify your MVP feature set 5. Create your MVP prototype 6. Test your MVP with customers © 2021 @danolsen
- 81. Mapping from Customer Benefits to Feature Chunks Must Have 1 Performance 1 Delighter 1 Delighter 2 Must Have 2 Performance 2 Performance 3 Benefits: M1A P1A D2A M2A P2A P3B Features: P1B D2B P2B P3C P3A P1C P1D
- 82. Copyright © 2021 @danolsen Prioritizing Product Ideas by ROI Investment (developer-weeks) Return (Value Created) Idea C Idea B Idea D Idea A Idea F 1 1 2 3 4 2 3 4 ?
- 83. Product Roadmap: Features by Version or Time Copyright © 2021 @danolsen Must Have Benefit 1 Performance Benefit 1 Performance Benefit 3 Delighter Benefit 1 Performance Benefit 2 Must Have Benefit 2 Delighter Benefit 2 M1A Time v1 v1.5 v2 v2.5 M2A P3A P1B P3B P2A P1A D2A P3C D2B MVP candidate
- 86. What is an MVP? Courtesy of Jussi Pasanen See Aarron Walter’s book Designing for Emotion © 2021 @danolsen
- 87. What is an MVP? Courtesy of Jussi Pasanen See Aarron Walter’s book Designing for Emotion © 2021 @danolsen
- 88. What is an MVP? Courtesy of Jussi Pasanen See Aarron Walter’s book Designing for Emotion © 2021 @danolsen
- 89. The Lean Product Process 1. Determine your target customer 2. Identify underserved customer needs 3. Define your value proposition 4. Specify your MVP feature set 5. Create your MVP prototype 6. Test your MVP with customers © 2021 @danolsen
- 90. The Lean Product Process 1. Determine your target customer 2. Identify underserved customer needs 3. Define your value proposition 4. Specify your MVP feature set 5. Create your MVP prototype 6. Test your MVP with customers © 2021 @danolsen
- 91. Learn more & join free: meetup.com/lean-product
- 92. For my slides and to share your feedback, please take this short survey: http://bit.ly/mcdan Point your phone camera here → @danolsen dan-olsen.com youtube.com/danolsen meetup.com/lean-product Happy to connect on LinkedIn Obrigado!